Open Enrollment Reminders

UVM Benefits Open Enrollment ends on Friday November 19, 2021. Open Enrollment is the only time annually when you can add, drop, or change your UVM benefits without experiencing a qualifying life event.

Required Enrollments (if interested for 2022)

Flexible Spending Account Medical (FSA Medical)
The IRS requires an annual enrollment, although this year, all remaining monies from 2021 are eligible to roll-over to 2022. This election can be made in PeopleSoft.  See below for more information.

Flexible Spending Account Dependent Care (FSA Dep Care)
The IRS requires an annual enrollment, although this year, all remaining monies from 2021 are eligible to roll-over to 2022. This election can be made in PeopleSoft.  See below for more information.

Voluntary Short-term Disability
This benefit will now be eligible for UVM payroll deduction.  Even if you were already enrolled, you  will need to re-enroll for 2022. Previous elections made with The Standard will not automatically continue for plan year 2022. This election can be made in PeopleSoft.  See below for more information.

Retirement Savings Age 50+ Catch-up
For age 50+ catch-up contributions, you must complete a new form annually. If interested, please see 2022 Age 50+ catch-up form. For retirement savings plans,  forms can be submitted throughout the calendar year. We recommend employees submit catch-up forms as soon as possible to ensure that they maximize their contributions.

PeopleSoft Open Enrollment Self-Service

Flexible Spending, voluntary short-term disability, and vision elections must be made in PeopleSoft via our Open Enrollment button prior to November 19, 2021 at 11:59pm.  See instructions on how to complete Open Enrollment Elections in PeopleSoft.

Flexible Spending Account Limits

The IRS has yet to announce limits for flexible spending accounts for calendar year 2022. Once announced, the new maximums will be communicated with campus. One plan change announced by the IRS notice 2021-15, allows all 2021 FSA medical and FSA dependent care balances to be carried over into the 2022 plan. This carry-over amount was previously capped at $550 for FSA medical only, and dependent care was not allowed to carry-over.

Retirement Savings Contribution Limit Changes for 2022

Last week the IRS announced the 2022 contribution limits associated with retirement savings plans (403b, 457b). Please see the chart below for the 2021 & 2022 limits.

Affordable Care Act (ACA) Information Review & Update

The Affordable Care Act (ACA) requires employers to request employees to verify or submit the social security numbers for medical dependents at least once a year. During Open Enrollment, employees may sign into PeopleSoft Self-Service to verify or submit social security numbers for medical dependents. Please see the PeopleSoft Open Enrollment How to Guide for step-by-step instructions on how to review and update personal and dependent information.

While ACA requires employers to send out a notice requesting employees to verify or submit dependent social security numbers, it does not require employees to make these updates.

For additional information on making these updates. Please contact Human Resource Services at 802-656-3150 or HRSinfo@uvm.edu.

Affirmative Action Plan Information Review & Update

The Office of Federal Contract Compliance Programs (OFCCP) requires that the University identify the number of faculty and staff employed at UVM with disabilities, and/or who are protected veterans. To meet our affirmative action requirements, we are required to request this data with respect to current employees every five years; though your participation is voluntary. Please take a few moments to update this information by going into the Open Enrollment button in PeopleSoft. Any information you provide is confidential, and information about your disability status will not be visible to your supervisor.